HKMB Hong Kong Means Business

Hong Kong Means Business Hong Kong Means Business
  • Login / Register

Languages

  • EN
  • 繁
  • 简
  • Events
  • My Feed
  • Contact HKTDC
  • Subscribe
  • Subscribe

Section Menu

  • multimedia
  • market spotlight
  • first person
  • Venture Hong Kong
  • heads-up
  • inside china
  • life & style
  • hktdc research

Languages

  • EN
  • 繁
  • 简
  • HKTDC.com |
  • About HKTDC |
  • My HKTDC |
  • Login / Register |

HKTDC.com About HKTDC My HKTDC

Login Register

Hong Kong Means Business

Section Menu

  • multimedia
  • market spotlight
  • first person
  • Venture Hong Kong
  • heads-up
  • inside china
  • life & style
  • hktdc research

https://hkmb.hktdc.com/en/MTA3NzUzMTU4OQ

hktdc research
SAVE FOR LATER
SHARE / SEND

"Scan QR Code" in WeChat and tap "..." to share.

BANGLADESH: Central Bank Imposes Tough LC Terms for Non-Essential Imports

06 June 2022



The Bangladesh Bank (BB), the country’s central bank, has restricted the import of non-essential goods by imposing a minimum of 50% cash letter-of-credit (LC) margin instead of 25%. In a 10 May 2022 notification, the central bank said it has doubled the margin for all imports, except essential goods, as the country attempts to address its decline in foreign reserves. 

The LC margin for sedan cars, high-end motor vehicles, as well as electronic and electrical home appliances has been increased further, fixed at a minimum of 75%, up from 25%. Essential foodstuffs, baby food, energy products, life-saving drugs, agriculture-related imports, government imports for priority projects, and input imports for local and export-oriented industries, however, are exempted from the latest margin hike. 

This is the second such move in about a month. On 11 April, the BB imposed the minimum requirement of a 25% cash LC margin on all non-essential imports, but so far it has failed to sufficiently dent the outflows of foreign currency import payments.

BACK TO TOP ^
    Topics:
  • Banking Services,
  • Other Asian Countries,
  • Bangladesh,
  • letter of credit,
  • luxury goods,
  • import restriction
  • Banking Services
  • Other Asian Countries
  • Bangladesh
Home

Article Topics

ARTICLE TOPICS

BANKING SERVICES24613
OTHER ASIAN COUNTRIES36167
BANGLADESH36169
LETTER OF CREDIT132119
LUXURY GOODS81405

ARTICLE TOPICS

BANKING SERVICES24613
OTHER ASIAN COUNTRIES36167
BANGLADESH36169
LETTER OF CREDIT132119
LUXURY GOODS81405
IMPORT RESTRICTION113621

interest_article

YOU MAY BE INTERESTED IN

26 July 2022

PAKISTAN: First Phase of Trade Single Window Officially Launched

25 July 2022

INDIA: Central Bank Allows International Trade Settlements in Indian Rupees

09 June 2022

PAKISTAN: Import of Non-Essential Luxury Goods Banned

02 June 2022

NEPAL: Temporary Ban on Imports on 10 Luxury Items

Related Events

RELATED EVENTS

5 - 8 September 2022

Hong Kong Pavilion at FHA–Food & Beverage, Singapore

14 September 2022

ASEAN Navigator Webinar Series 2022 – Exploring Manufacturing Partnerships and Business Opportunities in Vietnam in the wake of Covid-19

27 September 2022

ASEAN Navigator Webinar Series 2022 – Business & Investment Opportunities in Thailand

14 - 17 December 2022

Eco Expo Asia 2022
FIND AN EVENT

Social Share

FOLLOW US

GET WEEKLY UPDATES

newpaper-img

GET OUR WEEKLY EMAIL UPDATES

banner-img


I acknowledge that the above information may be used by the Hong Kong Trade Development Council (HKTDC) for incorporation in all or any of its database for direct marketing or business matching purpose (and may therefore become available to the public within and/or outside of Hong Kong for use by them), and for any other purposes as stated in the Privacy Policy Statement; I confirm that I have the consent and the authority of each individual named in this form to release their personal data for the purposes stated herein.


*For non-EU/EEA customers, please skip this box which is solely for EU/EEA customers as required by the relevant data protection law in the EU.

THANK YOU

Thank you for registering.

SHARE THIS STORY

EMAIL
LINKEDIN
WeChat
FACEBOOK
TWITTER
WHATSAPP

ID: HKTDCofficial

Don't have an account?

Create An Account

successfully added on your preferences.